The Risks of Mortgage Rate Shopping in Denver’s Real Estate Market

With experience in helping over 100 Denver home buyers since 2020, I’m here to share insights that will empower you in this rapidly evolving market. Let’s talk mortgage rates today!

Understanding Mortgage Rates and the Economy

The journey begins with an understanding of the current mortgage rates – the highest we’ve seen in decades. It’s crucial to look back a couple of years to the pandemic era when the Federal Reserve’s Quantitative Easing kept rates low. This period of artificially low rates, while beneficial then, has led to the high rates we face today. As inflation rises, so do mortgage rates, and we’re now seeing the impact of the Fed’s quantitative tightening measures. However, the silver lining is the expectation that rates will stabilize, potentially settling around the historical average of 5-7%, as inflation continues its downward march.

The Art of Rate Shopping

Many Denver buyers are now meticulously rate shopping – a process that comes with its own set of challenges and opportunities. While it’s tempting to go for the lowest rates, I always advise considering both price and value. Some lenders may cut costs, making promises they can’t deliver, which risks your earnest money and dream home. It’s vital to find a lender who can be a strategic advisor, not just a call center, ensuring a comprehensive and safe home buying journey.

Choosing the Right Lender

When selecting a lender, ask about their costs, loan programs, and the total cash required to close. The Dempsey Group works with strategic mortgage advisors who not only guide you through the process but also offer benefits like free refinances as rates drop – saving you thousands in the long run.

Expert Home Buying Guidance

No one knows the Denver Metro area’s home buying process better than my team and I. With an 86% success rate of getting clients under contract on their first offer, even in multiple offer situations, we pride ourselves on the expertise and insight we deliver, as well as the usefulness of our Home Buying Guide. This guide covers all steps, from lender qualification to home shopping, ensuring you find the right home and make a strong, winning offer.

Final Thoughts

Whether you’re buying or selling in Denver, the Dempsey Group is here to guide you through every step with expertise and dedication. Scan the QR code for your Homebuyers Guide or reach out to us directly. Stay tuned for more informed decisions with Lauryn Dempsey, and remember, we’re here to make your home buying or selling journey a success!